Rupert Murdoch steps down as Fox, News Corp chief; hands over to son Lachlan
Rupert Murdoch, an Australian-born American business magnate, has announced his intention to leave his positions as head of News Corp. and Fox Corp.
In a note to staff reported by CNN on Thursday, Mr Murdoch, 92, stated, “I have been engaged with news and ideas on a daily basis for my entire professional life, and that will not change.
“But the time is right for me to take on different roles, knowing that we have truly talented teams.”
Lachlan Murdoch, his son, is said to head both businesses on his own, while the elder Mr Murdoch will become chairman emeritus of the two companies.
In 1996, Fox News debuted as a start-up rival to CNN. It subsequently rose to prominence as America’s top cable news outlet and a haven for Republican talking points and fabrications.
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